Amarin Corp Plc (AMRN)

[ORBAPU]

MarketEdge: Downgrade today from Long to Neutral

As of 03/08/2024 - Stock shows Mildly Deteriorating Conditions. SCORE = -2
If you are Long, hold current position. Do not initiate new position.
Stock is Not a Short Sale Candidate.

On 03/08/2024, The stock is underperforming the market when compared to the S&P 500 over the last 50 trading days. The MACD-LT, an intermediate-term trend indicator, is bearish at this time. If the stock closes below $0.63 a change in trend will be confirmed.Upside momentum, as measured by the 9-day RSI, is negative. The stock is in a short-term oversold condition based on a Slow % K stochastic reading of 20 or lower. Over the last 50 trading sessions, there has been more volume on down days than on up days, indicating that AMRN is under distribution, which is a bearish condition. The 50-day moving average is pointed up but the stock is trading below this important support level which is bearish. In addition, AMRN is below its declining 200-day moving average.

Resistance Range: 0.96-0.98
Support Range: 0.91-0.92